In a freshly published personal account, named Ithaki, the ex- premier Tsipras pulls no punches while he reflects on that chaotic period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, Tsipras selected the maverick economist Yanis Varoufakis to be his treasury head largely due to the latter's international reputation and Varoufakis's very persuasive skills when it came to communicator.
“He was, truthfully, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims how Varoufakis had his own agenda which included advancing his publications as well as testing out his game theories using Greece instead of genuinely fighting for the country's financial survival.
He wrote that those talks to prevent bankruptcy were “not only a method to secure improved terms for the country. They were an experiment, an historic chance to prove the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came dangerously close to leaving the eurozone.
On the line lay both the country's destiny and those harsh cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh conditions were put to a popular referendum, a move that threw the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by those against the cuts, Tsipras had little option to reject its outcome and agree to a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and distributing coupons to retirees, Tsipras knew it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes how his former ally had proved himself “unsuitable for a deal that required complex and sensitive management.”
Tsipras further wrote that his aggressive approach made him more and more alone among peers, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
